METRO WASHINGTON, DC-Head honchos behind the Moe's Southwest Grill, a four-year-old casual Tex-Mex restaurant chain headquartered in Atlanta, have made plans to expand the restaurant's presence in the Greater Washington, DC region with the signing of a 20-franchise deal. Moe's just sold the rights to 20 restaurants to a partnership involving two experienced franchisees, a Moe's spokesperson tells GlobeSt.com.
"Franchisees continue to respond enthusiastically to the Moe's model, which remains one of the most financially attractive in the industry," says Raving Brands CFO Matt Andrew; Raving Brands is the parent company of Moe's. "We boast a lower point of entry than our competitors coupled with solid franchise support. Additionally, as a multi-brand portfolio, Raving Brands is able to leverage multi-brand development to win superior real estate for our restaurants."
No decisions have yet been made with regard to the actual locations of the stores, which could pop up in areas of suburban Maryland, Northern Virginia, or the District itself. Moe's internal real estate department will be working closely with external brokers and franchisees to secure sites for the new locales, which will be approximately 2,500 sf in size each, and will, preferably, have patio space. With the recent 20-restaurant deal and three other agreements in place, Moe's will soon open a total of 32 locations in the area. On a grander scale, the company, which already has 200 restaurants, currently has a collective 800 franchise commitments across 38 states; 150 sites are expected to open this year.
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